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Item 4FItem 4F Ordinance No. 1019 Sale of Property RECOMMENDATION Approve Ordinance No. 1019, 1st Reading, Authorize the Sale of City-owned property at 4429 Soda Ridge Road in the amount of $9,125 Aqua Texas Property Background: Southlake purchased Indian Creek and Lakewood Ridge water system assets Purchase Price - $60,000 in 2005 March 1, 2011 - City Council declared properties as surplus Bid of $9,125 - Soda Ridge property by deadline of Sept. 23rd Aqua Texas Well Site Properties 4429 Soda Ridge Road (0.172 Acres) Well #1, Chlorination Shed and Pressure Tank Well #2, Storage and Pressure Tanks Aqua Texas Property Property Condition: Well production capacity less than 25-30 GPM No viable chlorination equipment Single storage tank – approximately 3,000 gal Single pressure tank Included in Sale: Ordinance #1019 also abandons 20’X200’ access easement to the property Aqua Texas Property Financial Consideration: Estimated cost to clear property and plug both wells - $10,000/ site Denton County Appraised Value 4429 Soda Ridge (0.172 acre) - $16,000 Recommendation: Approve Ordinance No. 1019, 1st Reading, Authorize the sale of city-owned property at 4429 Soda Ridge Road in the amount of $9,125 Questions: Bob Price – 817-748-8097